All of those stories coming up in a moment. Before we go to ben thompson, i want to show the live pictures from washington because he seemed pretty much set up there, we are expecting about four or five senators in the next few minutes to come to the microphone to condemn those protests we have seen at Different University campuses, certainly of the last few weeks, but more focused on what we saw overnight, both at ucla and at Columbia University in new york. So when that starts we will obviously return to washington. That gives us time to bring in ben thompson. He is herewith todays business needs. Good afternoon, what do you have for us . Lets move these things out of the way, i can actually see you extract thanks very much. Yes, we will start in washington, actually, and we will keep an eye on the stories you are talking about there as well, but we are looking at the worlds most powerful central bank of the big question of whether it will cut the cost of borrowing this year. That has become the key question for the Us Federal Reserve as it battles persistent inflation. Just a few months ago the question was how many cuts it would be able to make and no changes are expected when it announces its latest decision. Thats why the focus will be on what the chair of the Federal Reserve says about the direction of travel for the worlds biggest economy. The Feds BenchmarkInterest Rate is currently set at a range of 5. 25 5. 5 , which is where its been since it was increased in july last year. And the feds biggest concern is this number, 3. 5 , which is the rate at which prices are rising in the us on an annualised basis, inflation. It unexpectedly went up last month. That puts it ahead of the 2 target, which, along with making sure that as many people are in work as possible, are the two goals the fed is aiming for. But what they do also has an impact around the world because so Many Companies and governments also borrow money in us dollars. So it could have an impact for everyone. Ben harris is a Chief Economist at the us treasury who is now with the washington think tank the brookings institution. Thank you for being with us, good to have you on the programme. Give us a sense of what we may hear from the fed because it is so interesting how the mood has changed. As i said, just a few months ago we were talking about how many cuts they would be. But we might not even get one at all . � ,. , one at all . Thats right, there has been a sea one at all . Thats right, there has been a sea change one at all . Thats right, there has been a sea change in one at all . Thats right, there has been a sea change in the one at all . Thats right, there has been a sea change in the way been a sea change in the Way Investors have looked at the potential of cuts in the last year. Three or four months ago i would have been talking to you about would there be for five cuts. Maybe you would have came out and said there will be three and would have been considered a pessimist. Now we are talking about, will there be cuts at all . It is a legitimate case for investors saying, look, the fed just dont have the data for inflation to suggest we have it down towards 2 . So todays press conference with Jerome Powell is going to be really important because everyone will Pay Attention to the body in anguish and language he uses and in particular paying attention to whether or not he is suggesting that a, potentially down the road we will potentially have data that could suggest we actually need rate hikes, which are really not on the table right now, and two, i think most investors will be paying attention to whether or not he is suggesting there is a pivot in his approach or is hejust waiting to see whether or not the monthly Inflation Data comes in low enough for the fed to cut. Yes. Monthly Inflation Data comes in low enough for the fed to cut. Yes, rate hikes not on enough for the fed to cut. Yes, rate hikes not on the enough for the fed to cut. Yes, rate hikes not on the cards enough for the fed to cut. Yes, rate hikes not on the cards for enough for the fed to cut. Yes, rate hikes not on the cards for now, enough for the fed to cut. Yes, rate hikes not on the cards for now, but| hikes not on the cards for now, but jamie dimon has said he could see a time when Interest Rates hit 8 and that further uncertainty is really damaging right now to the us economy. Could we be in that position where rates start rising, not only a bit, but to 8 . The comment not only a bit, but to 8 . The comment you not only a bit, but to 8 . The comment you are not only a bit, but to 8 . Tue comment you are referring not only a bit, but to 8 . Tte comment you are referring to not only a bit, but to 8 . Tt2 comment you are referring to him not only a bit, but to 8 . Tt2 comment you are referring to him at the jamie dimon letter to investors and underneath that, you referenced, he was also saying that look, rates could also be much lower than we thought, so i think that diamonds point there was we are facing this fantastic uncertainty and more than we are recently when it comes to monetary policy. So could we be at 8 . Sure, but it is very unlikely. If we get to a place where we are at 8 it is suggesting not only that we have failed to control inflation, but also that the Labour Market continues to be very tight, so it is notjust continues to be very tight, so it is not just a continues to be very tight, so it is notjust a bad story, but also that the Labour Market is Strong Enough to withstand that hike, but right now i dont think anyone expects that soon. � now i dont think anyone expects that soon now i dont think anyone expects that soon. �. ,. , that soon. And we are in an election ear and that soon. And we are in an Election Year and that that soon. And we are in an Election Year and that is that soon. And we are in an Election Year and that is a that soon. And we are in an Election Year and that is a big that soon. And we are in an Election Year and that is a big problem year and that is a big problem because the economy itself is doing 0k, because the economy itself is doing ok, but at the same time with inflation proving to be so sticky, people are not feeling better off and as those elections approach in november that is not good news for president joe biden. Yes november that is not good news for president joe biden. President joe biden. Yes, youre exactly right president joe biden. Yes, youre exactly right. So president joe biden. Yes, youre exactly right. So inflation, president joe biden. Yes, youre exactly right. So inflation, it exactly right. So inflation, it turns out, is perhaps one of the most important Macro Economic variables when it comes to how people assess the performance of the president. There is lots of good news of the us economy right now. The Unemployment Rate is below 3 , it has been below 4 for two and a half years, we have had this massive wealth explosion that is happening Notjust Wealth Explosion that is happening not just at the top of the income distribution, but for less wealthy younger families. Distribution, but for less wealthy youngerfamilies. The labour distribution, but for less wealthy younger families. The Labour Market has been incredibly tight and has allowed people not only to see their wages grow, but often upscale into betterjobs, so it is not as though there is a bad new story about the economy, but the problem is the way people assess how well the economy is doing tends to be centred on not just inflation, but the price of they few goods like retail, gasoline or groceries. So if those prices stay high, it is not great news for the president. Stay high, it is not great news for the president. Then, really good to have ou the president. Then, really good to have you with the president. Then, really good to have you with us, the president. Then, really good to have you with us, thank the president. Then, really good to have you with us, thank you. The president. Then, really good to have you with us, thank you. We i the president. Then, really good to l have you with us, thank you. We will keep a close eye on what the fed tells us full stop ben harris bear from brookings institution. Now lets take you to capitol hill where we are getting a response to some of those protests that have been unfolding in the United States. Those riots and protests that took place at universities there. Lets listen in to watch pro senators are saying. No. They are violently and illegally demanding death for israel. , ~ illegally demanding death for israel. , ~. ,. , israel. Just like their ideological twins, the israel. Just like their ideological twins, the ayatollahs israel. Just like their ideological twins, the ayatollahs in israel. Just like their ideological twins, the ayatollahs in iran. I israel. Just like their ideological. Twins, the ayatollahs in iran. Just look at what is going on in these little glasses. These people are championing this islamist slogans like, from. To the sea, palestine will be free. In stamford they wore hamas headbands, at princeton they through the his brother ostracisation flag. They flew through the hezbollah flag up. In washington they called to the final solution and posted signs saying, they wouldnt leave untiljews go back to their real homes. Look at some of the consequences. At columbia a rabbi had to tell students at the university it was no longer safe for deuce. Jews jews. Assaulted jewish students. Ufc cancelled its graduation out of fear of pro hamas riots. It is time to stop these anti semitic, pro hamas mobs today. And if liberal College Administrators want to take action, the mayor is and the governors of these campuses should. And so should joe biden. When will the president himself, not his mouth pieces, condemn these hate filled little glasses . President biden needs to death these hate filled little gaza blue . He needs to denounce this. Fighting a righteous war of survival. The State Department need to yank the visas of foreign students in these Little Gaza Blue Back and dhs need to report them. The. Needs to investigate the Funding Sources behind the knees to, little gazas and. Wont protect the rights of theirjewish students. Instead, joe biden is putting more pressure on israel these days than he is on hamas itself or on the pro hamas chapters on americas campuses. But i guess that is what we should expect from the leader of the Democratic Party that has led its anti semitic elements fester and grow for years. Another four years forjoe biden meets anotherfour years of little gazas all across america. And that is something i suspect the American People will keepin suspect the American People will keep in mind this november. Senator . Protests are nothing new in our country protests are nothing new in our country. They are constitutionally protected country. They are constitutionally protected by the First Amendment. But it protected by the First Amendment. But it is protected by the First Amendment. But it is also very clear that these institutions can regulate the exercise institutions can regulate the exercise of those First Amendment rights, exercise of those First Amendment rights, based on time, mannerand place rights, based on time, mannerand place restrictions, neutral criteria place restrictions, neutral criteria. But as you have seen since october criteria. But as you have seen since october and criteria. But as you have seen since october and seventh, the line between october and seventh, the line between protesting and writing has been crossed time and time again on college been crossed time and time again on College Campuses across the country. Places College Campuses across the country. Places like College Campuses across the country. Places like columbia and yale, some of the places like columbia and yale, some of the most places like columbia and yale, some of the most elite, privileged institutions in america, Pro Hamas Rioters institutions in america, Pro Hamas Rioters have institutions in america, Pro Hamas Rioters have taken over buildings, threatened jewish students and presented students from pursuing the very reason presented students from pursuing the very reason they are there, which is their very reason they are there, which is their education. I suggest that these their education. I suggest that these administrations take notes from these administrations take notes from my these administrations take notes from my friend, a uti austin, president. From my friend, a uti austin, president , who has taken swift action president , who has taken swift action to president , who has taken swift action to break up demonstrations before action to break up demonstrations before things turned violent. Yesterday the University Of Texas In Austin yesterday the University Of Texas In Austin announced that nearly half of those austin announced that nearly half of those arrested on monday had no affiliation those arrested on monday had no affiliation with the university of texas affiliation with the university of texas in affiliation with the university of texas. In other words, the Mainstream Media would have you understand or would suggest that these understand or would suggest that these are understand or would suggest that these are somehow students who are outraged these are somehow students who are outraged at what is happening in the middle outraged at what is happening in the middle east. But in fact in texas and i middle east. But in fact in texas and i bet middle east. But in fact in texas and i bet the same number holds in other and i bet the same number holds in other parts and i bet the same number holds in other parts of the country, that nearly other parts of the country, that nearly half of those are not students at these institutions. What they did students at these institutions. What they did find. We students at these institutions. What they did find. They did find. We are going to leave that they did find. We are going to leave that group they did find. We are going to leave that group of they did find. We are going to leave that group of senators they did find. We are going to leave that group of senators as | they did find. We are going to leave that group of senators as they condemn the pro palestinian protests we have seen in universities across america. Tom cotton saying they were chanting, elimination slogans. They described the demonstrators as, pro hamas demonstrations, and the senator there at the Microphone Urging Universities across the us to take swift action. Just a flavour of some of the views of lawmakers just at the microphones. We will be back live in about 15 minutes at a variety of us universities. Around the world and across the uk, youre watching bbc news. You are alive with bbc news. Before you move on, i want to show some live pictures that are currently coming into us that we were seeing of the us top diplomat, Antony Blinken. There he is, the us Secretary Of State touring there, receiving a humanitarian operations briefing. Of course we sir saw him earlier in the day meeting with Benjamin Benjamin netanyahu, underlining that we need to. Get a briefing on the ground, but also repeating that message about trying to get a new hostage and ceasefire deal, so a variety of messages again from the us Secretary Of State underlining his message that hamas is the one obstacle to getting that new deal over the line. So the american Secretary Of State theyre looking at the humanitarian operation that the us have said on so many of these trips to israel, urged the israeli authorities had to allow more aid into gaza. Things have been getting a little better, but certainly nowhere near what the International Community and suddenly the Us Administration wants to see on the ground in gaza. If he approaches the microphones and gives us any latest comments, we will return to that. Lets stay in the region because while israel has been fighting its war on gaza, its northern border with lebanon has seen daily exchanges with hezbollah, the Lebanese ShiiteIslamist Group thatis the Lebanese ShiiteIslamist Group that is prescribed as a Terrorist Organisation by the uk and other governments. They launched rockets in Drone Attacks after the october seven attacks. Israeli military has retaliated with strikes. Has